Crinetics Pharma (CRNX) Flies 35% Higher on FDA Approval of Acromegaly Drug

We recently published 10 Big Names With Explosive Gains That Investors Can’t Ignore. Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) is one of the companies that soared by double- and triple-digits last week.

Shares of Crinetics Pharmaceuticals climbed by 35.39 percent week-on-week as investors gobbled up shares after the Food and Drug Administration (FDA) officially approved its drug treatment for acromegaly.

In a statement, Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) said that it officially secured the greh evaluated the drug’s safety and efficacy in previously treated and medically untreated adults with acromegaly.

Across both trials, Palsonify consistently demonstrated rapid onset, reliable biochemical control, and sustained efficacy.

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) said it targets to bring Palsonify ten light of the FDA for its drug, Palsonify, for the first-line treatment of adults with acromegaly who had an inadequate response to surgery and those whose surgery is not an option.

The approval is based on data from the PATHFNDR-1 and PATHFNDR-2 Phase 3 pivotal trials, whico the market in early October.

It is also underway with a marketing authorization application with the European Union to sell the drug across Europe, which is expected to be approved by next year.

The company is also partnering with Japanese firm Sanwa Kagaku Kenkyusho (SKK) to develop and commercialize paltusotine for acromegaly in Japan.

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Disclosure: None. This article is originally published at Insider Monkey.